The 'Goods and Services Tax' rate on essential food items is: MCQ with Answer and Explanation

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The 'Goods and Services Tax' rate on essential food items is:

A. 18%

B. 5%

C. 0%

D. 12%

Answer: Option C

Solution (By JKSSB Mock Tests)

Essential food items are often at 0% GST.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

The 'Sagarmala' programme was launched in:

A. 2013

B. 2015

C. 2016

D. 2017

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Correct Answer: Option B

Explanation:
Sagarmala was launched in 2015.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following best describes the evolution of planning in India after 2015?

A. Complete abandonment of any form of planning or policy coordination

B. Replacement of the Planning Commission by NITI Aayog with emphasis on cooperative federalism and strategic advice

C. Return to highly centralised planning without state participation

D. Continuation of mandatory Five Year Plans by the Planning Commission

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Correct Answer: Option B

Explanation:
In 2015 the Planning Commission was replaced by NITI Aayog, which focuses on cooperative federalism, policy advice and knowledge sharing rather than imposing centralised plan targets.

This question belongs to: Economy GK Economy Set 1

Question #3

The 'Goods and Services Tax' on export of services is:

A. zero-rated

B. 18%

C. 5%

D. 28%

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Correct Answer: Option A

Explanation:
Export of services is zero-rated under GST.

This question belongs to: Economy GK Economy Set 1

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